Bank of India awards HP ten-year IT outsourcing deal

Bank of India has awarded Hewlett-Packard a 10-year, IT infrastructure and applications outsourcing contract valued at $150 million.

The contract, won in a short-listed tender against IBM and i-flex, is HP's largest outsourcing deal in the Asia Pacific region.

Under the agreement, HP will assume responsibility for implementing and managing the roll out of a new Oracle data warehouse and Infosys core banking product to 750 of the state-run bank's branches. HP will also take charge of the bank's IT network, hardware maintenance and call centre support, as well as create a new disaster recovery site.

The new banking system is expected to be in place within two-and-a-half years.

HP is also vying with IBM for a five-year systems overhaul and integration contract at Bank of Baroda.